EDITOR’S PREAMBLE (and yes, there is a point) – 2024 is a “special” year for me as I will be turning 65 this July. That’s right, the gates to seniors discount heaven will blast open as I am rewarded for . . . okay, living as long as I have.
There are many reasons I have reached this milestone, and I am still healthy, happy, and active. For example, I eat right, get 8 hours of sleep every night, run competitively, and have few vices besides coffee and the occasional single malt scotch. Successful longevity isn’t achieved by genes and chance alone. In short, you have to do many of the right things at the right time on a consistent basis – which is the perfect introduction to today’s post on Coca-Cola.
Still Singing From The Hilltop
It has been 138 years since that fateful day on May 8th, 1886, when Dr. John Pemberton sold the very first glass of what has become a globally recognized beverage and brand.
My first real Coca-Cola moment came in 1971. During the Christmas holiday season, the Hilltop singers sang their iconic “I’d Like to Buy the World a Coke” song. Before that, a handful of notable beverage brands were simply soda pop or pop.
So, when I read Robert Hanshaws’ “A great company with purpose can accomplish much” recent post on LinkedIn about the company’s Q4, 2023 results, it brought me back to 1971. It also made me think – and remember, this is my 65th year; what is the reason for Coke’s enduring success of 138 years?
Cutting To The Chase
There are many articles and papers on why Coke has enjoyed enduring success.
For me, as a procurement professional, one of the articles that stands out is from CoSchedule – a marketing software company.
Of the five top reasons the article lists for Coke’s success, three are significantly dependent on procurement and the supply chain. Here are the five reasons, with my three highlighted:
- Brand Identity is a Must-Have
- Prioritize Product Quality
- Implement Strategic Pricing Strategies
- Actively Explore New Markets
- Implement Exceptionally Reactive PR
Without a solid procurement and supply chain practice, points 2, 3, and 4 won’t happen. And without the middle three, brand identity and exceptional PR won’t matter.
In conclusion, although marketing can sell a bad product to a certain extent, it’s not something you should strive for as an entrepreneur or marketer. You’ll only harm your reputation, lose revenue, and gain negative reviews from doing so. Rather than focusing on marketing gimmicks, strive to create a quality product that meets customer needs and wants. When done right, good marketing can help sell a good product, building a strong business reputation, and consistently increasing revenue. – Lisa Picovschi (Nov 8th, 2023)
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Procurement Insights
Coca-Cola – Still Singing From The Hilltop
Posted on February 24, 2024
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EDITOR’S PREAMBLE (and yes, there is a point) – 2024 is a “special” year for me as I will be turning 65 this July. That’s right, the gates to seniors discount heaven will blast open as I am rewarded for . . . okay, living as long as I have.
There are many reasons I have reached this milestone, and I am still healthy, happy, and active. For example, I eat right, get 8 hours of sleep every night, run competitively, and have few vices besides coffee and the occasional single malt scotch. Successful longevity isn’t achieved by genes and chance alone. In short, you have to do many of the right things at the right time on a consistent basis – which is the perfect introduction to today’s post on Coca-Cola.
Still Singing From The Hilltop
It has been 138 years since that fateful day on May 8th, 1886, when Dr. John Pemberton sold the very first glass of what has become a globally recognized beverage and brand.
My first real Coca-Cola moment came in 1971. During the Christmas holiday season, the Hilltop singers sang their iconic “I’d Like to Buy the World a Coke” song. Before that, a handful of notable beverage brands were simply soda pop or pop.
So, when I read Robert Hanshaws’ “A great company with purpose can accomplish much” recent post on LinkedIn about the company’s Q4, 2023 results, it brought me back to 1971. It also made me think – and remember, this is my 65th year; what is the reason for Coke’s enduring success of 138 years?
Cutting To The Chase
There are many articles and papers on why Coke has enjoyed enduring success.
For me, as a procurement professional, one of the articles that stands out is from CoSchedule – a marketing software company.
Of the five top reasons the article lists for Coke’s success, three are significantly dependent on procurement and the supply chain. Here are the five reasons, with my three highlighted:
Without a solid procurement and supply chain practice, points 2, 3, and 4 won’t happen. And without the middle three, brand identity and exceptional PR won’t matter.
In conclusion, although marketing can sell a bad product to a certain extent, it’s not something you should strive for as an entrepreneur or marketer. You’ll only harm your reputation, lose revenue, and gain negative reviews from doing so. Rather than focusing on marketing gimmicks, strive to create a quality product that meets customer needs and wants. When done right, good marketing can help sell a good product, building a strong business reputation, and consistently increasing revenue. – Lisa Picovschi (Nov 8th, 2023)
30
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